|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||0.0930 - 0.1015|
|52 Week Range||0.0900 - 6.4200|
|Beta (5Y Monthly)||3.62|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 23, 2020 - Feb 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.63|
Key Energy Services, Inc. (“Key” or the “Company”) announced today that it has entered into a Restructuring Support Agreement (including the exhibit thereto, the “RSA”) with lenders under its term loan facility collectively holding over 99.5% (the “Supporting Term Lenders”) of the principal amount of the Company’s outstanding term loans. The RSA contemplates a series of out-of-court transactions that will effectuate a financial restructuring of the Company’s capital structure and indebtedness and related facilities, including the conversion of approximately $241.9 million aggregate outstanding principal of the Company’s term loans (together with accrued interest thereon) into (i) newly issued shares of the common stock of the Company and (ii) $20 million of term loans under a new approximately $51.2 million term loan facility (the “Restructuring”).
Key Energy Services, Inc. (“Key” or the “Company”) (KEGX) announced today that President and Chief Executive Officer Rob Saltiel has resigned from the Company including his position on the Key Board of Directors effective December 30, 2019 to pursue other opportunities. Rob played a key role in the Company’s recent cost reduction initiatives, exiting certain operations and areas in order to focus on key markets, as well as reducing overhead costs.